BOSTON ( TheStreet) -- This was a great week for the small but vocal group of loonies who believe in the existence of a vast conspiracy to keep Dendreon's ( DNDN) prostate cancer vaccine Provenge from ever reaching the market.The rants of the "P Baggers" -- as I like to call them -- served as the inspiration for this week's Biotech Stock Mailbag.
- Fact: The Favus report began hitting the inboxes of institutional investors Tuesday morning before 7 a.m. EST.
- Fact: Early but small trades in Dendreon were hitting Tuesday's pre-market tape at 7:15 a.m. showing the stock down almost $1.50, or 4%. At 7:45 a.m., Dendreon was trading at $29.75, down more than 8% from Monday's close. By 8:30, the stock was at $29.23, down 10%.
- Fact: My first indication that something was awry came via Twitter at 7:51 a.m. when someone I follow tweeted that the stock was down big for an unknown reason. At about the same time, I checked my inbox and saw an email from Favus with his report attached. Favus' email was sent to me at 7:54 a.m.